The US Dollar Has Recovered Part of the Losses. Investors Expect Additional Drivers

Last week, the US dollar strengthened against a basket of currency majors. The dollar index (#DX) updated local highs and closed in the green zone. Statements by Beijing and Washington that they were close to completing the first stage of the trade agreement supported the US currency.

At the moment, financial market participants expect the Fed meeting, which is scheduled for October 30. The regulator is expected to reduce the range of key interest rates by 25 basis points to 1.50-1.75%. Also, on Thursday, October 31, the Bank of Japan meeting will be held. We recommend paying attention to the comments by representatives of the Central Banks.

The British pound declined against the US dollar. Traders are closely following the Brexit news. All 27 EU countries agreed to another Brexit delay, but so far, no release date has been set. Brussels wants more clarity on the UK's position. The EU should make a final decision next Tuesday.

The "black gold" prices are falling after growth on Friday. Currently, futures for the WTI crude oil are testing the $56.45 mark per barrel.

Market Indicators

On Friday, the bullish sentiment was observed in the US stock markets: #SPY (+0.41%), #DIA (+0.60%), #QQQ (+0.80%).

The 10-year US government bonds yield has become stable at the level of 1.82-1.83%.

The Economic News Feed for 28.10.2019:
  • Today, the publication of important news is not expected.

by JustForex, 2019.10.28

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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